Rand holds on to weekly gains amid dovish Fed outlook
The local currency has gained about 2% to the dollar this week, as a dovish outlook for US Federal Reserve policy provides support for emerging markets
12 July 2019 - 10:05
The rand was firmer against major global currencies on Friday morning, holding on to gains made this week in the wake of dovish commentary from US Federal Reserve chair Jerome Powell.
Powell’s comments about the weakness of the US economy has boosted market expectations of interest rate cuts from the Fed, allowing the rand to push almost 2% higher against the dollar this week, reaching a five-month high on Thursday...
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